Investment firm Cyber.Fund focused on growing the cybernetic economy, announced its intention to commit $100 million in investment towards projects that combine blockchain technology with artificial intelligence (AI) and the Internet of Things (IoT).

Founded by early Ethereum backers Konstantin Lomashuk and Vasiliy Shapovalov, Cyber.Fund is entirely funded by the founders’ capital. The firm defines the cybernetic economy as an interconnected and automated economic framework where blockchain, AI and IoT converge. It plans to support projects with blockchain as the foundation.

2/This new $100mm fund will serve current portfolio companies and as well as service new projects and teams. Its mission is to accelerate the transition to an open cybernetic economy by backing entrepreneurs innovating in blockchain, AI, robotics and adjacent technologies.

— cyber•Fund (@cyberFund_) December 14, 2023

“Cyber.Fund is driven by the belief in blockchain as the foundational layer for a new economy – one that is programmable, trustless, and decentralized. The cybernetic economy represents a new era of innovation and collective growth, and we at cyber.Fund are fully prepared to be at the forefront of this transformation,” said Konstantin Lomashuk, co-founder of Cyber.Fund. 

The fund is currently backed by Cosmos, Solana and Polkadot.

AI Companies Thrive as Crypto and Blockchain Funding Slows

While the influx of new capital into crypto and blockchain enterprises has persisted over the past year, the investment amounts have significantly slowed compared to the previous bull run period. Meanwhile, investment in artificial intelligence has surged, fueled by interest in projects like ChatGPT.

In a recent development, French artificial intelligence (AI) company Mistral AI raised $415 million, positioning itself as a competitor to OpenAI.

Founded by former researchers from Meta and Google AI, the company specializes in developing AI-powered technology that businesses can use for deploying chatbots, search engines, online tutors and various other AI-driven products.

Cyber.Fund’s commitment to projects at the intersection of blockchain, AI, and IoT reflects its dedication to driving innovation in the digital landscape, against the backdrop of a general slowdown in investments.

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